US EditionJSW Steel, South Korea's POSCO Group join hands to set up 6 MTPA steel plant in India
JSW Steel and POSCO plan a 6 MTPA steel plant as a 50:50 joint venture to boost India's steel capacity and industrial growth, aligning with Atmanirbhar Bharat goals.
- On Monday, August 18, 2025, JSW Steel, India’s leading steel producer, and South Korea’s POSCO Group signed a non-binding HoA in Mumbai to explore a 6 million tonnes per annum steel plant, with Lee Ju-tae and Jayant Acharya present.
- Building on last October’s memorandum, JSW Steel and POSCO Group outlined a proposed 50:50 joint venture framework, said JSW Steel.
- JSW Utkal Steel Ltd acquired about 2,950 acres in Rajnagar, Odisha, including 2,677.80 acres of forest land and 272.51 acres of non-forest land leased by the Odisha government.
- Once the joint venture materializes, POSCO’s Indian customers can source requirements from it, supporting India’s industrial growth and long-term value creation, said Lee Ju-tae.
- With global steel demand rising, the project aims to boost India’s production capacity and strengthen its position as a global industrial hub.
11 Articles
11 Articles
JSW Steel & South Korea’s POSCO sign 6MTPA pact to joint venture in India
JSW Steel, India’s leading steelmaker, and South Korea’s POSCO Group, a global leader in steel production, have signed a non-binding Heads of Agreement to jointly explore setting up a 6 million tonnes per annum integrated steel plant in Odisha.
JSW Steel, POSCO sign agreement to set up mega steel plant in India; Odisha among sites under consideration
Mumbai: JSW Steel, one of India’s leading steelmakers, and South Korea’s POSCO Group, a global leader in steel production, have signed a non-binding Heads of Agreement (HoA) to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India. The development marks a major step toward strengthening strategic cooperation between the two industry giants. The HoA builds on a Memorandum of Understanding (MoU) i…
JSW Steel share price jumps 2% on agreement with POSCO group. Details here
Source: Live Mint JSW Steel share price surged as much as 2 per cent to ₹1,067.60 apiece in Monday’s trading session after the company signed an agreement with PASCO Group. JSW Steel stock has remained in green despite volatility in Indian stock market. The stock has gained nearly 8.89 per cent in six months and over 16 per cent in one year. JSW Steel agreement with PASCO Group On Monday, the company announced that it has signed a non-binding…
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